TNB buys stake in Turkey firm for RM1bil

PETALING JAYA: Tenaga Nasional Bhd (TNB) is buying 30% of GAMA Enerji AS for US$243mil (RM1.06bil), giving the company a stake in power generation assets in Turkey and a platform to pursue infrastructure projects in the surrounding region.

GAMA Enerji is building a 840MW gas-fired plant and a 45MW wind power plant in Turkey. It has also developed and operates a large water conveyance project in Jordan.